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Cannara Biotech Launches Online CBD Shop

Canadian firm Cannara Biotech (OTCMKTS:CNBTF), which focuses on cannabis-infused products, wants to become the Amazon of CBD, in its words.

The Montreal-based company has launched an online e-commerce platform called shopCBD.com to enter the U.S. Hemp-CBD market.

The online shop aims to provide a user-friendly online experience where consumers can purchase, review and compare a variety of CBD products, Cannara said in a press statement. The new e-commerce platform will be operated by a Cannara subsidiary.

The company sees opportunities in the U.S. hemp-CBD market with the recent passage of the 2018 Farm Bill.

Cannara E-Commerce Platform

The online shopping portal will offer retail products from hemp-CBD manufacturers for the U.S. consumer market. It will offer a variety of products, including tinctures, oils, capsules, body care, vape cartridges and pet-related products.

“We are taking a leadership role by creating a hub for vendors to showcase their products and consumers to purchase Hemp-CBD products in a fast and easy way. We want to become the Amazon of CBD”, Cannara CEO Zohar Krivorot said in a statement.

CBD products are becoming popular as consumers seek natural-based health and wellness solutions to treat various ailments from inflammation, anxiety to insomnia among others. The hemp-derived CBD market is expected to reach $22 billion by 2022, according to industry analysts at Brightfield Group.

Cannara is building an indoor cannabis cultivation facility in Quebec. The 625,000-square-foot facility will produce high-grade hydroponically grown indoor cannabis and cannabis derivative products for the Canadian and international markets. The company plans to generate licensing revenues, rental revenues and revenue streams from joint-venture arrangements using this valuable property.